As a new bout of fear gripped the financial markets on Thursday, stocks fell sharply again, and the credit markets seized up as confidence in the nation's financial system ebbed.
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NEW YORK, Nov. 21 (UPI) -- The U.S. recession has begun to squeeze credit markets, threatening to erase gains made by the government's massive bailout plan, data show.
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Nov. 21 (Bloomberg) -- The cost of borrowing in dollars for three months in London rose for the first time in four days as concern about credit losses and writedowns overshadowed interest- rate reductions and cash funding by central banks.
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The G-20 last weekend committed to exercising strong oversight of credit rating agencies. Many of the financial instruments that are at the heart of the financial crisis had been given AAA ratings, meaning they were supposed to be of the highest quality. That turned out to be wrong. Will the G-20 declaration change anything?
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Nov. 21 (Bloomberg) -- DSG International Plc, the U.K.’s largest consumer-electronics retailer, rebounded from its lowest close in more than 20 years in London trading after Credit Suisse raised its rating to “outperform,” saying concern over financial failure has left the stock “over discounted.”
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Nov. 21 (Bloomberg) -- Nissan Motor Co. , Japan's third- largest automaker, had its credit rating cut one notch by Fitch Ratings, citing the company's dependence on the weak U.S. auto market and an appreciation of the yen.
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Nov. 21 (Bloomberg) -- The cost of protecting European corporate bonds from default fell, according to traders of credit-default swaps.
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